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Emblem-at-Tower-Manor
Affordable HousingDevelopmentLoansMultifamilyTexas

Associated Bank Provides $60.4M Construction Loan for Metro Austin Affordable Housing Project

by Taylor Williams

MANOR, TEXAS — Associated Bank has provided a $60.4 million construction loan for Emblem at Tower, a 324-unit affordable housing project that will be located at 12100 Tower Road in Manor, about 15 miles northeast of Austin. Great Southern Bank joined Associated Bank in the construction loan syndication. Emblem at Tower will consist of 11 three-story buildings that will house a mix of two-, three- and four-bedroom units. The 4-percent LIHTC project will be available to households earning less than 60 percent of the area median income. Residents will have access to a clubhouse with fitness center, pool and outdoor amenity space, as well as a free 15-hour per week tutoring service. Construction is slated to be complete in early 2027. Dominium is the borrower and developer.

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The-Sterling-at-Oak-Hill
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 330-Unit Multifamily Property in San Antonio

by Taylor Williams

SAN ANTONIO — Newmark has brokered the sale of The Sterling at Oak Hills, a 330-unit multifamily property located within South Texas Medical Center in San Antonio. Built in 2019, the property offers one- and two-bedroom units that are furnished with stainless steel appliances, granite or quartz countertops and walk-in closets. Amenities include a pool, outdoor kitchen, fitness center and a clubhouse with an entertainment kitchen. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. The buyer was San Antonio-based AHV Communities.

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IndustrialLoansTexas

JLL Arranges Acquisition Loan for Industrial Outdoor Storage Facility in Metro Dallas

by Taylor Williams

CEDAR HILL, TEXAS — JLL has arranged an acquisition loan of an undisclosed amount for a 7.5-acre industrial outdoor storage facility (IOS) in Cedar Hill, a southwestern suburb of Dallas. Developed in 2015, the property features a 15,023-square-foot industrial service building with 3,000 square feet of office space. The facility was fully leased at the time of the loan closing. C.W. Sheehan, Kristi Leonard, Peyton Ackerman and Nate Henderson of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Apricus Realty Capital. The direct lender was not disclosed.

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Leasing ActivityOfficeTexas

National Veterinary Associates Signs 39,000 SF Office Lease Near Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — The National Veterinary Associates has signed a 39,000-square-foot office lease near downtown Austin. The organization’s new headquarters space is located on the top floor of the office and retail building at The Bouldin mixed-use development at 1301 S. Lamar Blvd. Daniel Rasmussen and Brian Walker of Cushman & Wakefield represented the tenant in the lease negotiations. Austin-based Seamless Capital owns The Bouldin, which is also home to a 309-unit multifamily project that is nearing completion.

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AcquisitionsMultifamilyTexas

Marcus & Millichap Negotiates Sale of 16-Unit Treehouse Apartments in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Marcus & Millichap has negotiated the sale of Treehouse Apartments, a 16-unit multifamily complex located at 1400 Cherry Drive in Arlington. According to Apartments.com, the property was built in 1972 and offers one-, two- and three-bedroom units. Dylan York, Ford Braly and Al Silva of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsNet LeaseNortheastRetail

Marcus & Millichap Brokers $88.5M Sale of Net-Leased Retail Portfolio in Northeast

by Taylor Williams

BOSTON — Marcus & Millichap has brokered the $88.5 million sale of a portfolio of 31 single-tenant retail properties that are located in various markets throughout the Northeast. The addresses of the standalone properties, which are all net leased to automotive services provider Town Fair Tire, were not disclosed, but they comprise locations in Connecticut, Massachusetts, New Hampshire, Maine, New York, Rhode Island and Vermont. Town Fair Tire has 16 years remaining on the leases at each location. James Koury and Alex Quinn of Marcus & Millichap, in conjunction with Dan Plotkin of Northeast Retail, represented the seller, the estate of Town Fair Tire founder Neil Mellen, in the transaction. Koury and Quinn also procured the buyer, Orion Buying Corp.

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The-305-Waltham
DevelopmentMassachusettsMultifamilyNortheast

Alliance Residential Completes 314-Unit Multifamily Project in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — Alliance Residential has completed The 305, a 314-unit multifamily project in Waltham, a western suburb of Boston. The 305 features one-, two- and three-bedroom apartments that are furnished with stainless steel appliances, quartz countertops, custom cabinets and individual washers and dryers. The amenity package comprises an outdoor pool; two-story fitness center with private cardio rooms; work-from-home lounges with dedicated breakout rooms; a shuttle and transit lounge; exterior courtyard with grill stations and lawn games; a speakeasy-inspired clubroom and lounge with an outdoor sky deck; a tenant-only playground and service spaces; a secured package room with cold storage; and two pet spas. Rents start at approximately $2,650 per month for a one-bedroom apartment, according to the property website.

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21-Parker-Drive-Avon-Massachusetts
AcquisitionsIndustrialMassachusettsNortheast

B&D Holdings Buys Industrial Building in Avon, Massachusetts, for $18.5M

by Taylor Williams

AVON, MASS. — B&D Holdings has purchased a 109,300-square-foot industrial building in Avon, a southern suburb of Boston, for $18.5 million. Built in 1972, the building at 21 Parker Drive features clear heights of 17 to 32 feet, 135-foot truck court depths and more than an acre of outdoor storage space. Michael Restivo and David Coffman of JLL represented the seller, a partnership between Oliver Street Capital and Bain Capital Real Estate, in in the transaction. Thomas Didio Jr., Amy Lousararian and Max Custer, also with JLL, arranged a three-year, fixed-rate acquisition loan through Provident Bank on behalf of B&D Holdings. At the time of sale, the property was fully leased to tenants such as Taylor Communications, HelloFresh and FreshPoint.

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AcquisitionsConnecticutMultifamilyNortheast

NEPCG Negotiates $9.9M Sale of Bridgeport Commons Apartments in Connecticut

by Taylor Williams

BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $9.9 million sale of the 86-unit Bridgeport Commons Apartments in southern coastal Connecticut. The property consists of two buildings that were originally built between 1967 and 1970 and house nine studios, 73 one-bedroom units and four two-bedroom units. Brad Balletto, Rich Edwards and Robert Paterno of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNew YorkNortheastRetail

Wegmans to Open 101,000 SF Grocery Store in Lake Grove, New York

by Taylor Williams

LAKE GROVE, N.Y. — Regional grocer Wegmans Food Markets will open a 101,000-square-foot store in Lake Grove, a hamlet on Long Island. The store, which will be the grocer’s first on Long Island, will be located at 3270 Middle Country Road and has a grand opening date of Wednesday, Feb. 26. Wegmans expects to employ about 500 people at the store on full- and part-time bases.

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